Market Turbulence Dominates Session
The HVACR Business Stock Index lost 90.83 points, or 6.38 percent, and ended at 1332.91, its lowest close in over two years. Declining issues dominated advancing issues by a 9-to-1 margin.
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Market Rally Slows, but Stocks Keep Notching Records
Originally published: 02.16.17 by Margot Crabtree
Our rally-happy markets continued on a tear, but took a breather as our trading session ended Feb. 15, 2017. The Dow industrials topped the 20,000 mark, buoyed by Trump’s business-friendly policies.
The Labor Department reported that its consumer price index increased 0.3 percent in December. Although business spending rose in December, as tracked by numbers released by the Commerce Department, a separate report showed that the economy slowed in the fourth quarter, with gains of 1.9 percent, as compared with the 3.5 percent growth of the quarter before.
The Labor Department reported that 227,000 jobs were created in January in both the public and private sectors; economists were expecting 175,000 jobs; it was the strongest gain since September. The National Association of Realtors said that December sales of existing homes slid 2.8 percent, to the lowest since 1999.
The Commerce Department reported a drop of 10.4 percent in December for new home sales, far higher than the 1 percent drop expected by an economist poll from Reuters.
The Commerce Department reported that orders to factories in the U.S. improved 1.3 percent in December. The Commerce Department said that consumer spending was up 0.5 percent in December. It was the largest increase in three
“The underlying momentum in the economy remains positive, so that gives us a positive bias toward the equity market, but we also know that there is a lot of volatility just around the corner,” said Alan Gayle, senior investment strategist and director of asset allocation at RidgeWorth Investments.
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 34.60 | 32.90 | 1.70 | 5.17% | 35.05 | 20.00 | 52760 | 1825496 |
| NYSE | ABB | ABB Ltd. | 22.93 | 22.48 | 0.45 | 2.00% | 23.90 | 17.26 | 2140000 | 49070200 |
| NYSE | AOS | AO Smith Corp. | 49.34 | 48.46 | 0.88 | 1.82% | 51.49 | 33.58 | 147700 | 7287518 |
| NYSE | FIX | Comfort Systems USA, Inc. | 34.00 | 33.80 | 0.20 | 0.59% | 35.25 | 25.40 | 36910 | 1254940 |
| NYSE | DOV | Dover Corp. | 80.15 | 79.65 | 0.50 | 0.63% | 82.32 | 58.15 | 155500 | 12463325 |
| NASD | ELON | Echelon Corp. | 4.88 | 4.75 | 0.13 | 2.74% | 6.28 | 4.17 | 4430 | 21618.4 |
| NYSE | DD | E. I. DuPont de Nemours & Co. | 77.94 | 73.60 | 4.34 | 5.90% | 78.36 | 57.76 | 864570 | 67384585.8 |
| NYSE | EME | EMCOR Group, Inc. | 70.15 | 68.96 | 1.19 | 1.73% | 73.44 | 44.16 | 60650 | 4254597.5 |
| NYSE | EMR | Emerson Electric Co. | 63.73 | 57.12 | 6.61 | 11.57% | 64.36 | 46.98 | 645070 | 41110311.1 |
| NYSE | FCAU | Fiat Chrysler | 11.52 | 9.73 | 1.79 | 18.40% | 11.63 | 5.45 | 1290000 | 14860800 |
| NYSE | F | Ford Motor Co. | 12.63 | 12.63 | 0.00 | 0.00% | 14.22 | 11.07 | 3860000 | 48751800 |
| NYSE | GM | General Motors Co. | 37.08 | 37.34 | -0.26 | -0.70% | 38.38 | 27.34 | 1500000 | 55620000 |
| NYSE | HON | Honeywell International, Inc. | 124.28 | 118.07 | 6.21 | 5.26% | 124.47 | 101.25 | 761190 | 94600693.2 |
| NASD | HDSN | Hudson Technologies, Inc. | 7.75 | 7.84 | -0.09 | -1.15% | 8.50 | 2.91 | 41410 | 320927.5 |
| NYSE | IR | Ingersoll-Rand Plc | 81.62 | 77.27 | 4.35 | 5.63% | 82.17 | 51.32 | 259510 | 21181206.2 |
| NYSE | JCI | Johnson Controls, Inc. | 41.62 | 43.66 | -2.04 | -4.67% | 48.97 | 33.01 | 938710 | 39069110.2 |
| NYSE | LII | Lennox International Inc. | 159.32 | 149.38 | 9.94 | 6.65% | 164.93 | 119.75 | 43050 | 6858726 |
| NYSE | LXU | LSB Industries, Inc. | 9.94 | 8.16 | 1.78 | 21.81% | 15.50 | 4.52 | 27910 | 277425.4 |
| NYSE | MTW | Manitowoc Co., Inc. | 6.77 | 5.96 | 0.81 | 13.59% | 7.57 | 3.31 | 138770 | 939472.9 |
| NYSE | MLI | Mueller Industries, Inc. | 43.01 | 39.50 | 3.51 | 8.89% | 43.96 | 25.42 | 57380 | 2467913.8 |
| NYSE | NWL | Newell Rubbermaid, Inc. | 47.27 | 47.00 | 0.27 | 0.57% | 55.45 | 36.03 | 482400 | 22803048 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 19.80 | 20.15 | -0.35 | -1.74% | 20.76 | 16.80 | 3910000 | 77418000 |
| NASD | OFLX | OmegaFlex, Inc. | 44.90 | 49.96 | -5.06 | -10.13% | 64.91 | 30.22 | 10090 | 453041 |
| NYSE | PH | Parker-Hannifin Corp. | 155.49 | 146.25 | 9.24 | 6.32% | 156.44 | 98.46 | 133290 | 20725262.1 |
| NYSE | RBC | Regal-Beloit Corp. | 74.50 | 71.80 | 2.70 | 3.76% | 77.20 | 51.57 | 44760 | 3334620 |
| NYSE | ROK | Rockwell Automation | 152.49 | 141.99 | 10.50 | 7.39% | 155.44 | 99.67 | 128600 | 19610214 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 129.31 | 123.80 | 5.51 | 4.45% | 132.42 | 90.83 | 809030 | 104615669.3 |
| NYSE | SPXC | SPX Corp. | 25.00 | 24.83 | 0.17 | 0.68% | 25.95 | 9.16 | 41890 | 1047250 |
| NYSE | TXN | Texas Instruments | 75.67 | 75.00 | 0.67 | 0.89% | 79.47 | 51.31 | 999490 | 75631408.3 |
| NYSE | UTX | United Technologies Corp. | 111.91 | 110.22 | 1.69 | 1.53% | 112.83 | 86.64 | 805860 | 90183792.6 |
| NYSE | WSO | Watsco, Inc. | 148.40 | 150.45 | -2.05 | -1.36% | 159.55 | 123.64 | 27530 | 4085452 |
|
|
Price 2/15/17 |
Price 1/13/17 |
Net Change |
Percent Change |
| HVACR Business Stock Index | 1,437.19 | 1,405.96 | 31.23 | 2.22% |
| Dow Jones Industrial Average | 20,611.86 | 19,885.73 | 726.13 | 3.65% |
| S&P 500 Index | 2,349.25 | 2,274.64 | 74.61 | 3.28% |
| NASDAQ Composite | 5,819.44 | 5,574.12 | 245.32 | 4.40% |
Gainers/Losers |
||||
| $ Gainer | Rockwell Automation | 10.50 | ||
| $ Loser | OmegaFlex, Inc. | -5.06 | ||
| % Gainer | LSB Industries, Inc. | 21.81% | ||
| % Loser | OmegaFlex, Inc. | -10.13% | ||
| Advancers | 24 | |||
| Decliners | 6 | |||
| Unchanged | 1 | |||
The HVACR Business Stock Index added 31.23 points, or 2.22 percent, and closed at 1437.19, its second record close this year. Advancing issues dominated declining issues by a 4-to-1 margin.
Rockwell Automation beat estimates, and shares jumped 10.50 points, or 7.39 percent. ROK reported first quarter net income of $214.7 million, or $1.65 per share, from $185.5 million, or $1.40 per share in the year-ago quarter. Adjusted for one-time items, Rockwell earned $1.75 per share. Revenue was $1.49 billion.
Analysts polled by Thomson Reuters expected earnings of $1.44 per share and revenue of $1.42 billion. Buckingham Research upped its rating on ROK to “buy” from “neutral;” Gabelli & Co. downgraded Rockwell to “sell” from “hold.” Their price target is $150. Rockwell ended at 152.49, and was the top dollar gainer.
OmegaFlex shed 5.06 points, or 10.13 percent. OFLX reported fourth quarter net income of $4.1 million, or $0.41 per share. This compares to earnings of $4.7 million, or $0.47 per share in the comparable year-ago quarter. Revenue was $25.6 million, from last year’s $26.1 million. OmegaFlex ended at 44.90, and was the top dollar and percentage loser.
Lennox rose 9.94 points, or 6.65 percent. LII reported fourth quarter net income of $40.4 million, or $0.93 per share. Excluding one-time items, Lennox earned $1.50 per share. Revenue was $897.3 million. Analysts surveyed by Zacks expected earnings of $1.40 per share and revenue of $880.4 million. Lennox ended at 159.32.
About Margot Crabtree
Margot is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit tradetrendsonline.com.
Articles by Margot Crabtree
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